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In this article, I will feature one waste management company that has seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:

  1. The stock is purchased by three or more insiders within one month.
  2. The stock is sold by no insiders in the month of intensive purchasing.
  3. At least two purchasers increase their holdings by more than 10%.

Progressive Waste Solutions (NYSE:BIN) operates as a vertically integrated non-hazardous solid waste management company in North America.

(click to enlarge)

Insider buying during the last 30 days

  • John Dillon purchased 793 shares on September 26, and currently holds 10,155 shares or less than 0.1% of the company. John Dillon serves as a director of the company. John Dillon increased his holdings by 8.5% in September.
  • James Forese purchased 1,189 shares on September 26, and currently holds 12,800 shares or less than 0.1% of the company. James Forese is Non-Executive Chairman of the Board. James Forese increased his holdings by 10.2% in September.
  • Jeffrey Keefer purchased 793 shares on September 26, and currently holds 5,134 shares or less than 0.1% of the company. Jeffrey Keefer serves as a director of the company. Jeffrey Keefer increased his holdings by 18.3% in September.
  • Douglas Knight purchased 793 shares on September 26, and currently controls 17,173 shares or less than 0.1% of the company. Douglas Knight serves as a director of the company. Douglas Knight increased his holdings by 4.8% in September.
  • Daniel Milliard purchased 793 shares on September 26, and currently controls 17,167 shares or less than 0.1% of the company. Daniel Milliard serves as a director of the company. Daniel Milliard increased his holdings by 4.8% in September.
  • William White purchased 558 shares on September 26, and currently controls 558 shares or less than 0.1% of the company. William White serves as a director of the company. William White increased his holdings from zero shares to 558 shares during the last 30 days.

Insider buying by calendar month

Here is a table of Progressive Waste Solutions' insider-trading activity by calendar month.

MonthInsider buying / sharesInsider selling / shares
September 20134,9190
August 20135,00010,000
July 201300
June 201366,6000
May 201300
April 201300
March 201338,32310,000
February 201300
January 20131610

There have been 115,003 shares purchased and there have been 20,000 shares sold by insiders this year.

Financials

Progressive Waste Solutions reported the second-quarter financial results on July 30, with the following highlights:

Revenue$516.8 million
Net income$13.5 million
Cash$35.0 million
Debt$1.6 billion

Outlook

Progressive Waste Solutions' guidance for full-year 2013 is as follows:

Revenue$1.977-$1.997 billion
Adjusted EBITDA$538-$548 million
Free cash flow$211-$225 million

Competition

Progressive Waste Solutions' competitors include Casella Waste Systems (NASDAQ:CWST) and Republic Services (NYSE:RSG). Here is a table comparing these companies.

CompanyBINCWSTRSG
Market Cap:3.00B231.63M12.17B
Employees:7,6581,80030,000
Qtrly Rev Growth:0.090.090.03
Revenue:1.99B466.30M8.19B
Gross Margin:0.390.290.37
Operating Margin:0.120.050.13
Net Income:105.50M-41.60M460.60M
EPS:0.92-1.311.26
P/E:28.32N/A26.62
PEG:1.83N/A4.93
P/S:1.510.501.49

Progressive Waste Solutions has the highest P/S ratio among these three companies.

Here is a table of these competitors' insider-trading activities this year.

CompanyInsider buying / sharesInsider selling / shares
CWST27,0003,857
RSG091,513

Only Progressive Waste Solutions has seen intensive insider buying during the past 30 days.

Conclusion

There have been six different insiders buying Progressive Waste Solutions and there have not been any insiders selling Progressive Waste Solutions during the past 30 days. Three of these six insiders increased their holdings by more than 10%. Progressive Waste Solutions has an insider ownership of 5.10%.

There are nine analyst buy ratings, six neutral ratings and zero sell ratings with an average target price of $26.71. The stock is trading at a P/E ratio of 28.32 and a forward P/E ratio of 21.11.

Progressive Waste Solutions has a book value of $11.02 per share and the stock has a dividend yield of 2.23%. The 200-day moving average is currently at $22.37, which could be a good entry point for the stock.

Source: Insiders Are Buying Progressive Waste Solutions